Economics 102

[JamesTheTank]

When politicians decided to protect banks they really showed where their allegences lye. I'm against mob rule, but corporate rule is a huge step towards Facism. Thanks for the video.

[Goldensonic2008]

Clearly most of you guys do not know the benefits of a central bank, the benefits of a government intervention in a government bailout, and in fiat currency.

I dont wanna go about it here cause it would take a long reply to explain. But im sure you can find resources without going to the ron paul website

[PatsBlog]

I would love for you to enlighten me about the benefits of a central bank and fiat currency especially since the topic nearly scuttled the founding of our nation. Ever hear the phrase, "Not worth a Continental"? And who is the beneficiary of this central banking system?

There's a reason we didn't start off with a central bank and fiat currency. And, btw, these bailouts are against everything our founders stood for. Check out "The Creature From Jekyll Island" Dr. Paul didn't write it.

[MsticalPrincess]

I'm in!!

In fact...forget the government sending us checks. Office Supply stores should now carry "Money Printing Paper".

I already have my "Santa list" ready.

Boat (picked out the name...MsticalPrincess :D)

Would love love love lots of jewelry (including some nice collars for my two dogs)

Private plane so I can jet-set around the world.

I want a closet like Carrie's in Sex and The City

Want to build a HUGE dog shelter that is a replica of the White House

etc..etc..etc

*wink*

[PatsBlog]

You know, that is a great idea because we would have to buy the money printing paper and that would stimulate the economy by increasing revenues at the office supply stores. You are brilliant! I'm surprised you haven't heard from Barack Obama to be part of his economic recovery team

[MsticalPrincess]

SShhhh....he *did* call me...but I had things to do...so turned him down...lol

[Goldensonic2008]

um yes the inflation is below 3%. That is a standard for major fiat currencies eg the american and euro. How many times can i say that the federal reserve is not a private institution honestly

[PatsBlog]

Specifically, how do you feel that the Federal Reserve serves you personally? And I don't mean in some theoretic, poetic, esoteric way. I mean, how do you feel your personal economic life is enriched by the policies and actions of the Federal Reserve System. In short, what has the Fed done for YOU today? Just curious.

[MsticalPrincess]

Pat...without getting into any other details...my first question is why can't we get monthly reports on what is going on with OUR money???

[PatsBlog]

Are you kidding? That would be a disaster! You think folks are mad NOW? If they understood the DETAILS of what was going on with their money there would be fighting in the streets. Better for the Fed and Wall Street to keep it quiet. BTW, did you know that one of Ben Bernake's first acts as Fed Chair was to stop reporting a statistic called "M3" which allows you to compute how much fiat currency is in circulation? This keeps everyone in the dark about how much our money supply is inflated.

[MsticalPrincess]

Ah ha...all hell would break loose.

[Spiritwriter61]

Great job! Your insight and outlook on this whole bail-out matter, and printing money "out of thin air," makes lots of good sense. What will we do when we have all this money out here and it is of no value to anyone? I agree...instead of bailing out these companies, the feds should bail us out of our debt so the companies won't have anything to cry about. One last thing. I can't send you an e-mail that states a good reason for our govt. to spearhead these bail-outs because there is none.

[3DNC]

Good job on both videos! RP was a 3rd party candidate in 88. He was able to get his message out via the web this time as a Rep, but the media's converge was distorted. He is a hard man to get in debate responses or TV ads. He has always voted based on the Constitution. While he would have voted NO, he tried to get congress to Declare War in Iraq and Afghanistan. Paul as a third party in 2012 would be interesting especially with a good VP. More important is his transparency in congress for 2010.

[MsticalPrincess]

No no no...I don't want Dr Paul as a 3rd party and he doesn't either.  He is proud to be a Republican and so am I.

I just say..."THERE IS A NEW WAVE OF REPUBLICANS"

Go Dr Paul!!!!!!!!!!

Ron Paul/Rand Paul 2012

[PatsBlog]

Good point. Especially since the Democrats and Republicans have conspired to shut 3rd parties out of the process. I agree.

[3DNC]

Most people (Dems & Reps) are still sheep. Most blindly follow their party's leaders. Some Republican leaders are saying the party is now open to RPs ideas. The Campaign for Liberty needs support, and the important thing is to keep Dr. Paul in congress next election. If you look at history we are overdue for a new party. I understand why you do not want a 3rd party as I understand why Dr. Paul does not either after all he already tried that. We do need more people to wake up. Thanks for reply.

[MsticalPrincess]

I agree...we can't let Dr Paul's message die. That is going to be OUR task. Also...we need to support Peter Schiff who will most likely be running for Senator. Please go to his website. Campaign for Liberty is supporting him.

Ron Paul/Rand Paul or Peter Schiff 2012!!!!

[3DNC]

Agreed! We need more free market thinkers like RP in Congress/Gvmt that will obey their oath to office. Peter was Laughed At when he predicted on TV early in the election, before the primaries got going that the economy would end up the biggest issue, as everyone was focused on the war back then. Who's laughing now ...none of us because Peter was right. For those that don't know Peter advised Ron Paul in the 2008 primary, but said Ron Paul knew enough to be an expert economist. Thanks for info.

[MsticalPrincess]

3DNC...

"Truth always Prevails

First They Ignore you ....

Then they laugh at you ....

Then they fight you ....

Then you win."

- Mohandas karamchand Gandhi

[3DNC]

Thank you for motivation. I spoke with the NC CFL state coordinator today about action plans. The truth is we are battling the Democratic & Republican sheep, and then neocons at the top of our Party. Be prepared to get ignored and laughed at some more, but be prepared for the conflict too. We have all these stages going on at once, as we are at different levels with different people. The good news is the progress we have made. The truth is that it is a difficult struggle, but CFL has a plan. ;)

[MsticalPrincess]

3DNC...yes, and they are not going to be stopped. I am reading Ron Paul's "The Revolution...A Manifesto" and I swear he makes even more sense in his book....there is just no way anyone that reads that book can not support Campaign For Liberty. Keep up the good work!!

[PatsBlog]

@MsticalPrincess Isn't that what's happening with the Tea Party?

[superpencil007]

Actually, the N.W.O. had this planned before 9-11, THIS is just another incremental step to

ONE WORLD DICTATORSHIP, - debasing our currency

while enriching their sub-corp which do their bidding.

Makes no difference WHAT we THINK, SAY, because our elections are rigged by Diabold type Vote scaming machines, and WE HAVE no real representation in state Assembly or House of Rep;... WE MUCH INCREASE the assemblies so that 1 represent no more than 28,000. See: "Taxation without Representation"

[CurtHowland]

The bailout was never about "mortgages" anyway. The money simply covered part of the fractional reserve negative quantities of money in the banks themselves.

The goal was to protect the bankers, not the banks customers.

Going bankrupt would be the best thing to happen, then the loans could be sold for what they are worth to people willing to take the risk.

[PatsBlog]

What do you think about the recent rumblings of all the banks being nationalized?

[MsticalPrincess]

OMG...NOOOOOOOOOOOOOOO...that is the last thing we need. Sure road to socialism....yikes

[CurtHowland]

Government already owns much, if not most, stock in banks. "Institutional Investors" is the term for government funds.

With the Federal Reserve system and the FDIC, the banks are already pretty much nationalized. Everyone "knew" the government would bail out Fannie/Freddie, and sure enough they did, so there was no discipline in their operations. Same with banks for decades. S&L "crisis", case in point.

It was the Bear Sterns bailout that frightened me. That showed govt has NO LIMITS.

[regretfulflyerxxx]

To us your bird shit and your the invaders of our land, you made us speak your language or face prision sentences, you made us wear a shirt and a tie or else. Why would we like you.

[Goldensonic2008]

The gold standard is way to stable for the current economies, and if an economic disaster hits the government or anybody cant do much to help simulate it. Thanks to the fed we have several tools to combat this. This injection of money will help it just takes time for the money to roll. And with the GM bailout im on two sides on that one and i could argue either way lol

Great vid btw

[PatsBlog]

Tools? The Fed's greatest tool is to create money with a printing press, artificially lower the interest rates to pump that unbacked paper money into the system through frenzied lending. The Fed is not the solution to the problem the Fed IS the problem. Are you aware of a Fed statistic called M3? One of Ben Bernake's first acts as the new Chairman was to cease reporting of this statistic which reveals how much the system is inflated. I can't believe there are still people who praise the Fed!

[Goldensonic2008]

Ok Pat, i tend to disagree with you on things, but just as you are i am at heart a free market capitalist. Firstly you mentioned the fiat currency, yes it does have faults but inflation that is below 2-3% is not an issue. and the feds keep it at that level same as the european central bank. The Golden standards has its faults too major flaws, one of them being that there is currently only 8 trillion worth of gold in the world not enough cover the us GDP

[CurtHowland]

The quantity of "gold" is irrelevant to a "gold standard". Just because the present exchange rate makes it $8T of gold in the world is irrelevant. The price of gold can change.

What doesn't change is the quantity of gold. And that is why a gold standard works: The quantity in circulation is separated from the machinations of any government (or any person).

The goal is simply the separation of government from money anyway. If the market settles on a zinc standard, not gold, so be it.

[PatsBlog]

Do you believe that inflation is below 3%??? You're kidding, right? You seem to advocate central banking and fiat currency backed by nothing. Why is that? Unless you are part of the banking elite or the government how do you feel this is of benefit to you?

[Bob02895]

That was a great video..and you are right about it all....

[bigragu]

It's just paper. The walls are going to come crumbling down. The only difference between our nation and a dictatorship is 1 more choice. That doesn't sound good at all.